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Nov 27, 2012
11/12
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. >> susie: new damage estimates today on super storm sandy. the insurance industry will be on the hook for as much as $22 billion, according to numbers compiled by disaster-modeling firm air worldwide. the total is three billion less than the original tally, issued just after hurricane sandy made landfall in late october. >> tom: it was back to work for wall street, with the major stock indices ending mixed. the selling was stronger earlier in the day, with the s&p 500 hitting its lowest level of the session before noon eastern time. the losses were reduced in afternoon trade with the index finishing down just 0.2%. trading volume remains modest. 630 million shares on the big board. a tad over 1.6 billion on the nasdaq. the selling pressure showed up in the telecommunication sector, falling 1%. the energy and consumer staples sectors also fell. with so much focus on consumers and spending over the weekend, grocery stocks led the consumer sector lower today. super markets safeway and whole foods were down 3.2% and 3.1% respectively. kraft foods
. >> susie: new damage estimates today on super storm sandy. the insurance industry will be on the hook for as much as $22 billion, according to numbers compiled by disaster-modeling firm air worldwide. the total is three billion less than the original tally, issued just after hurricane sandy made landfall in late october. >> tom: it was back to work for wall street, with the major stock indices ending mixed. the selling was stronger earlier in the day, with the s&p 500 hitting...
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Nov 27, 2012
11/12
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KTVU
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the governor of new york places the cost of hurricane sandy at $42 billion in damages and losses. and all bets are off at intrade.com. the website can no longer allow u.s. residents to place financial bets on the prediction markets. intrade correctly predicted president obama would be re-elected and that the u.s. is not likely to fall off the fiscal cliff. there are lots of rumblings coming out of washington. let's turn to scott bauer of trading advantage to talk about this alleged fiscal cliff. what do you think - and good morning - deal or no deal, scott? > > good morning angie. yeah, there is going to be a deal. it may not be later this week, it may not be next week, but i think at a minimum we are going to see congress, the president, everyone say, you know what, we are on the table together here, and even if we have to extend this three months, six months, we are going to get it done. there is no way with the recovery that we have seen - and i'm not talking about the stock market recovery, i am talking more of the consumer sentiment recovery, housing recovery - with what we h
the governor of new york places the cost of hurricane sandy at $42 billion in damages and losses. and all bets are off at intrade.com. the website can no longer allow u.s. residents to place financial bets on the prediction markets. intrade correctly predicted president obama would be re-elected and that the u.s. is not likely to fall off the fiscal cliff. there are lots of rumblings coming out of washington. let's turn to scott bauer of trading advantage to talk about this alleged fiscal...
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Nov 27, 2012
11/12
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FBC
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superstorm sandy. the best estimates at the moment for the costs to the insurance industry, not the economic costs but costs to the insurance industry between $15 billion and $25 billion, superstorm sandy on par with hurricane ike. cheryl: what does it mean for lloyd's? >> we will pick up a proportion of that, anything between 5%, and 10% of these storms when they hit the u.s. but at this stage without a clear understanding of the number it is difficult to say what it is, working with syndicates in lloyd's market to come up with an estimate they hope we will have by the end of the year. cheryl: one thing we talk about on the east coast is constructing coastal flood barriers. is that something you support? >> couldn't hear the question that clearly, but we are very in keener to see government spend on flood protection in coastal defense because in first and foremost we don't want properties to flood. better not have the flood in the first place but it does flood than insurance will help. government do n
superstorm sandy. the best estimates at the moment for the costs to the insurance industry, not the economic costs but costs to the insurance industry between $15 billion and $25 billion, superstorm sandy on par with hurricane ike. cheryl: what does it mean for lloyd's? >> we will pick up a proportion of that, anything between 5%, and 10% of these storms when they hit the u.s. but at this stage without a clear understanding of the number it is difficult to say what it is, working with...
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Nov 27, 2012
11/12
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CSPAN
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a storm like superstar on sandy is a storm we have never seen before -- a storm like super storm sandy. it is due to industrial pollution from burning fossil fuels such as petroleum. some might question is this. how much responsibility does the petroleum industry willing to take for superstar sandy and other climate disasters that are looming on the horizon? how do you justify using billions of years of energy accumulation through your own individual wealth? thank you very much. guest: thank you for the question. the oil and natural gas industry are leaders in alternative forms of energy. we take our responsibility very seriously. we have invested more than the federal government in these different forms of energy over the past 10 years. to nobodycond seat for energy future. we understand our role and are looking always for new energy forms. we have a vast diversity of energy that we produce. climate has been a discussion in the united states for the past decade or so. carbon emissions right now are at 1992 levels. the economy has slowed down and we need to get people back to work and
a storm like superstar on sandy is a storm we have never seen before -- a storm like super storm sandy. it is due to industrial pollution from burning fossil fuels such as petroleum. some might question is this. how much responsibility does the petroleum industry willing to take for superstar sandy and other climate disasters that are looming on the horizon? how do you justify using billions of years of energy accumulation through your own individual wealth? thank you very much. guest: thank...
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Nov 27, 2012
11/12
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CNBC
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a little bit of sandy and a little bit of fiscal cliff in this 1.2 to 2.2, those are the forecasts i have seen so far. >> do you think perhaps the consumer is not reflecting the fiscal cliff issues because the last time, we keep going up to the edge of the cliff and then things get -- things get resolved? >> it's a good question. it strikes n s me that looking at the debt ceiling debate i think consequences were equally stark but more easily understood, people anticipated that and more bad stuff in the economy. the consumer confidence numbers showed that job prospects looked good, home buying intentions look good, a buoyancy to the consume they're wasn't there. >> wasn't there. >> face the debt ceiling. yeah. >> thank you, steve. >> sure. >> as always. if you want more on this special coverage that we have, the crisis is in a special section of our website, riseabove.cnbc.com, check it out. it has some terrific information, ty. >>> breaking news now from the bond market. two-year notes up for auction. you saw the results flash across the screen a few moments ago. rick santelli breaki
a little bit of sandy and a little bit of fiscal cliff in this 1.2 to 2.2, those are the forecasts i have seen so far. >> do you think perhaps the consumer is not reflecting the fiscal cliff issues because the last time, we keep going up to the edge of the cliff and then things get -- things get resolved? >> it's a good question. it strikes n s me that looking at the debt ceiling debate i think consequences were equally stark but more easily understood, people anticipated that and...
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Nov 27, 2012
11/12
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CNBC
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consumer column here and, simon, i think right now things are changing and we remain to see the effects of sandy on the data. >> let me return to this subject of why the consumer remains so strong. do you think the average american is aware of what the fiscal cliff is when you look at the numbers that watch television news or read newspapers and the degree to which they may not have spoken about that subject during the election campaign and most people thought by taxing rich we would solve problems we have in america and people have no idea that general low income americans have no idea i would suggest that the fiscal cliff is on its way. no wonder they are out there spending money. no wonder. >> i wouldn't make a distinction between what low income americans or high income americans know less than anyone around the scale. on the other hand, simon, it may be that people think they'll solve this problem and it's not going to affect them given the pledge by the president not to allow the tax increases and spending cuts to hit people $250,000 and below. that's a distinct possibility. i would also p
consumer column here and, simon, i think right now things are changing and we remain to see the effects of sandy on the data. >> let me return to this subject of why the consumer remains so strong. do you think the average american is aware of what the fiscal cliff is when you look at the numbers that watch television news or read newspapers and the degree to which they may not have spoken about that subject during the election campaign and most people thought by taxing rich we would...